Items Tagged with 'Alight Mortgage Lending'

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"Millennials are the future of this business and technology is what they've known all their lives. So, to attract and keep young talent, we have to give them the appropriate resources and technology—keeping the technology current keeps them engaged and excited,” said Laurel Caliendo, president and CEO of Village Mortgage.

Alight, a provider of industry-specific real-time financial optimization applications and a two-time winner of HousingWire’s HW Tech100, announced this week that it closed on a Series A round of funding, in which the company raised $11 million. Leading the funding round was Caterpillar Venture Capital, a wholly owned subsidiary of Caterpillar, the construction and manufacturing giant. Yes, you read that right.

Aspire Financial announced it selected Alight’s Mortgage Lending platform, which will in turn help the company forecast where its business is headed. This latest business venture significantly changes the way the company will handle its expenses, acquire branches and more.

Predicting what comes after an interest rate change may seem like a high-stakes guessing game, but mortgage lenders using Alight’s dynamic analysis can get critical visibility into their breakeven point and know what funding levels they need to maintain profitability. These executives can also forecast general and administrative expenses and branch profitability with every change.

Alight Mortgage Lending helps answer key questions like: What happens if mortgage rates skyrocket? Will it be better to open a new branch this quarter or next? Is there enough cash to build franchise value by retaining servicing? Using Alight, lenders can make this kind of scenario-driven analysis a critical part of day-to-day business for all teams across their enterprise.

Stories of firms beating their own 2015 projections are widespread, which means the gaze for 2016 is shifting to future growth. It’s possible you are considering the on-boarding of new branches as a way to keep filling your origination coffers. It only takes one branch manager or regional manager changing employers to influence the migration of entire origination teams and change a firm’s future outlook.

Without Alight, sharing information between a firm’s capital and secondary market group and the finance group takes up precious executive time while yielding “back of the envelope” calculations for what their projections mean down the line. With Alight, these groups can coordinate in a seamless and transparent process that yields accurate analysis.

The secondary mortgage market is staging a determined, if quiet, recovery. Our list of Secondary Market All-Stars spotlights companies at the heart of the industry who are delivering solutions and services in both the GSE and private-label market, and forging a path for others to follow.

It’s a new world, and in this new world, data is more crucial than ever. Getting the best data possible, and then being able to interpret that data to improve performance, will be a competitive edge that no company in the mortgage finance space can do without in the current environment of volume contraction.